Technical trading – USDJPY

 

Technical trading – USDJPY

 

USDJPY Daily

This is what I wrote on 12.12.2024. :

Pattern – Bullish

If we get over 152.850 -we might see a run over 154.000 tomorrow

Now do not get me wrong – I don’t want to show off or gloat !

I want to prove the point and share some insights as how I trade…

Those of you that have been members of our Trading club might remember me explaining how those channels/trend lines are historical – coming from way back…decades old.

Here they were right on dot once again….

Now as pair reached the top of this channel, we should be wasting some time just below 158.400 – correction phase.

Depending on how it works out – Sideways to up or serious down correction , we’ll spend some time in it :

• Sideways to up – more days – longer operation
• Sharp drop – less days – quicker outcome

Time wise, this rally ran its course – it might hit even higher , but just for the fun of it.

My knowledge on USDJPY tells me that we might be on the road to the previous high – 161.951 , but ideal target should be in 170 area.

This Close on weekly chart indicates more to come in this year !

I’ll follow with the use of MA’s in this very same situation – only way to explain what I do is to use real situations and how I read it.

 

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Technical trading – USDJPY